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Bad Reviews are Good for Business

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Bad Reviews are Good for Business

  1. 1. ReevooTM – Real reviews, from customers like you.
  2. 2. From the first days of free markets, the recommendations of others have been by far the most persuasive form of advertising.
  3. 3. We’re social creatures – people love to share ideas and opinions. Family, friends, ‘people like us’… they’re all hugely influential in the way we live, and more importantly for you – shop. As the world and the market changes, so does the way we connect – but no matter how technological we get, the sentiment remains the same.
  4. 4. ‘I want to hear the opinions of people like me’.
  5. 5. THE POWER OF A VOICE ‘Recommendations from people I know’ and ‘consumer opinions posted online’ are two of the top three forms of advertising.
  6. 6. TODAY’S SAVVY CONSUMERS
  7. 7. We used to share our opinions via, literally, word of mouth. People relied on talking to others to make the right decision about what to buy. They still do – however, the Internet has put the voice of the customer into our pockets.
  8. 8. THE POWER OF RATINGS & REVIEWS 81% of shoppers read reviews before buying. According to the website profitguide.com the #1 trend for 2014-2015 is online reviews. Source: YouGov 2013
  9. 9. Research shows that 80% of online shoppers feel more trusting of reviews displayed by a neutral, credible third party. Source: The Wall Street Journal (Dec 9 2013) – US & UK 80%
  10. 10. NO ONE SHOPS ALONE.
  11. 11. THE SOCIAL ECONOMY Our thirst for information, the ease of its availability online and our willingness to share makes it easier than ever for word of a good purchase experience to spread. That’s the good news. But what about those customers who’ve had bad experiences? Don’t worry…
  12. 12. NEGATIVE REVIEWS CAN HELP YOUR BUSINESS
  13. 13. As a marketer, it might be scary to think that there are people talking negatively about your brand, and even scarier to consider encouraging and facilitating it.   But, the surprising truth is – bad reviews and negative feedback actually bring a host of benefits.   You can’t please everyone – there’s not a business around that hasn’t gotten some bad reviews. The key is how you choose to deal with them.  
  14. 14. Consumers spend more than five times longer on site when they interact with bad reviews. Source: Reevoo 2013 5x
  15. 15. Customers convert 85% more often when they interact with bad reviews. 85% Source: Reevoo 2013
  16. 16. SO WHY ARE BAD REVIEWS SO GOOD FOR BUSINESS? ReevooTM – Real reviews, from customers like you.
  17. 17. TRUST.
  18. 18. The funny thing about trust is that you can’t ask for it – you have to earn it quietly. How do you earn it? By being completely honest with your consumers and showing the good and bad sides of your product.
  19. 19. of customers suspect censorship or faked reviews when they don’t see bad scores. People will put more of their trust in your brand, and you’re on the way to turning them into your advocates. Source: Dimensional Research, 2013 95%
  20. 20. NEGATIVE REVIEWS CREATE BRAND ADVOCATES
  21. 21. Some brands are lucky – their entire consumer base are die-hard fans who will defend to the death their preference. Most of us aren’t so fortunate – so we’re gonna have to work for it.   Here’s the good news – with the right process for dealing with feedback in place, you can start churning out brand advocates.
  22. 22. LEMONADE FROM LEMONS 18% of consumers became loyal repeat customers after receiving a brand response to negative feedback Being visible and replying to negative reviews builds trust and establishes a human connection between brand and customer. (Right now retailer consumer report, 2011) 18%
  23. 23. BUT BEWARE… NOT ALL REVIEWS ARE THE SAME
  24. 24. THE IMPORTANCE OF BEING PROACTIVE Different methodologies and processes can make a huge impact - good or bad - in the results you get.   Passive review systems, like the ones you see on sites like Amazon, TripAdvisor, Yelp etc, let anyone write a review. There’s no proof of purchase, limited fraud screening, and an open possibility of fake reviews.   Proactive collection is the act of actually contacting all of your past customers and requesting an honest review. It’s a bit of work (although, not if you use a third party) but the rewards are much greater.
  25. 25. PICKING THE RIGHT PARTNER Will benefit your brand’s: •  Traffic •  Engagement •  Conversion •  Loyalty •  Innovation •  Brand perception •  TRUST ReevooTM – Real reviews, from customers like you.
  26. 26. REEVOO AMPLIFYTM •  Proactively requests reviews •  Validates every review against purchase feeds •  Ensures human moderation in native language •  Removes all bias ReevooTM – Real reviews, from customers like you.
  27. 27. Thank you! We are Reevoo. ReevooTM – Real reviews, from customers like you.

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